ITR'S TRIBUNAL TAX REPORTS (ITR (TRIB))
Volume 3 : Part 2 (Issue dated : 10-5-2010)
SUBJECT INDEX TO CASES REPORTED IN THIS PART
Advance tax --Interest payable by assessee--Assessee under bona fide belief that income not chargeable to tax in India--Interest cannot be levied under section 234B--Income-tax Act, 1961, s. 234B-- Royal Jordanian Airlines v. Deputy Director of Income-tax, International Taxation (Delhi) . . . 181
Business expenditure --Disallowance--Administrative expenses--Disallowance based on comparison with other assessment years--Not valid method of addition--Deletion justified--Income-tax Act, 1961-- Susee Auto Plaza P. Ltd. v. Addl. CIT (Chennai) . . . 166
Donations to charitable institution --Special deduction--Approval of institution--Renewal--Trust established for carrying out medical and educational charitable activities but constructing building and letting it out to educational institution for carrying out its educational activities--Not part of charitable activity--Denial of renewal justified--Income-tax Act, 1961, ss. 12A, 80G-- D. R. Ranka Charitable Trust v. Director of Income-tax (Exemptions) (Bangalore) . . . 151
Penalty --Acceptance or repayment of deposits exceeding prescribed limit otherwise than by account payee cheque--Finance company--Deposits at doorstep of customers--No bank account of depositor--No banking facility in village where depositors reside--Amounts collected on a bank holiday from depositors--Deposits received after banking hours--Explanation given "reasonable cause"--Period of three years from date of starting up of business would be reasonable period for business exigencies--Income-tax Act, 1961, ss. 271D, 271E, 273B-- CIT (Deputy) v. Emeskay Financial Services Ltd. (Visakhapatnam) . . . 134
Presumptive taxation --Non-resident--Business of operating aircraft--Special provision for computing income under section 44BBA--Scope of section 44BBA--Section 44BBA is a machinery provision--Assessee incurring loss--No income can be computed under section 44BBA--Income-tax Act, 1961, s. 44BBA-- Royal Jordanian Airlines v. Deputy Director of Income-tax, International Taxation (Delhi) . . . 181
Reassessment --Notice--Notice after four years--Reassessment on basis of facts already on record--No failure to disclose material facts--Reassessment invalid--Income-tax Act, 1961, ss. 147, 148-- CIT (Asst.) v. Praveen Industries Pvt. Ltd. (Delhi) . . . 154
Search and seizure --Assessment--Sale of two-wheelers by assessee-company--Allegation of excess collection of amount towards registration of vehicles--Materials relating to sale of four wheelers belonging to group company found--Assessment based on presumption not permissible--Books of account of assessee neither rejected nor found defective--No evidence relatable directly with assessee's case found--Addition to be deleted--Income-tax Act, 1961, ss. 132, 143(3), 153C-- Susee Auto Plaza P. Ltd. v. Addl. CIT (Chennai) . . . 166
----Block assessment--Block assessment of third person--Condition precedent --Assessing Officer of searched person should record his satisfaction that undisclosed income found during search belonged to such person--No satisfaction recorded--Block assessment invalid--Income-tax Act, 1961, s. 158BD-- CIT (Deputy) v. Flair Builders P. Ltd . (Delhi) . . . 158
Unexplained expenditure --Burden of proof of actual expenditure on Department--Addition on account of lower expenses in new unit compared with old unit--Addition based on hypothetical computation and not on any evidence to show that assessee has incurred expenses in new unit which are not accounted--Not sustainable--Income-tax Act, 1961, s. 69C-- CIT (Asst.) v. Shahzad Lookman Qadir (Mumbai) . . . 177
Words and phrases --"Satisfaction"-- CIT (Deputy) v. Flair Builders P. Ltd. (Delhi) . . . 158
SECTIONWISE INDEX TO CASES REPORTED IN THIS PART
S. 12A --Donations to charitable institution--Special deduction--Approval of institution--Renewal--Trust established for carrying out medical and educational charitable activities but constructing building and letting it out to educational institution for carrying out its educational activities--Not part of charitable activity--Denial of renewal justified-- D. R. Ranka Charitable Trust v. Director of Income-tax (Exemptions) (Bangalore) . . . 151
S. 44BBA --Presumptive taxation--Non-resident--Business of operating aircraft--Special provision for computing income under section 44BBA--Scope of section 44BBA--Section 44BBA is a machinery provision--Assessee incurring loss--No income can be computed under section 44BBA-- Royal Jordanian Airlines v. Deputy Director of Income-tax, International Taxation (Delhi) . . . 181
S. 69C --Unexplained expenditure--Burden of proof of actual expenditure on Department--Addition on account of lower expenses in new unit compared with old unit--Addition based on hypothetical computation and not on any evidence to show that assessee has incurred expenses in new unit which are not accounted--Not sustainable-- CIT (Asst.) v. Shahzad Lookman Qadir (Mumbai) . . . 177
S. 80G --Donations to charitable institution--Special deduction--Approval of institution--Renewal--Trust established for carrying out medical and educational charitable activities but constructing building and letting it out to educational institution for carrying out its educational activities--Not part of charitable activity--Denial of renewal justified-- D. R. Ranka Charitable Trust v. Director of Income-tax (Exemptions) (Bangalore) . . . 151
S. 132 --Search and seizure--Assessment--Sale of two-wheelers by assessee-company--Allegation of excess collection of amount towards registration of vehicles--Materials relating to sale of four wheelers belonging to group company found--Assessment based on presumption not permissible--Books of account of assessee neither rejected nor found defective--No evidence relatable directly with assessee's case found--Addition to be deleted-- Susee Auto Plaza P. Ltd. v. Addl. CIT (Chennai) . . . 166
S. 143(3) --Search and seizure--Assessment--Sale of two-wheelers by assessee-company--Allegation of excess collection of amount towards registration of vehicles--Materials relating to sale of four wheelers belonging to group company found--Assessment based on presumption not permissible--Books of account of assessee neither rejected nor found defective--No evidence relatable directly with assessee's case found--Addition to be deleted-- Susee Auto Plaza P. Ltd. v. Addl. CIT (Chennai) . . . 166
S. 147 --Reassessment--Notice--Notice after four years--Reassessment on basis of facts already on record--No failure to disclose material facts--Reassessment invalid-- CIT (Asst.) v. Praveen Industries Pvt. Ltd. (Delhi) . . . 154
S. 148 --Reassessment--Notice--Notice after four years--Reassessment on basis of facts already on record--No failure to disclose material facts--Reassessment invalid-- CIT (Asst.) v. Praveen Industries Pvt. Ltd. (Delhi) . . . 154
S. 153C --Search and seizure--Assessment--Sale of two-wheelers by assessee-company--Allegation of excess collection of amount towards registration of vehicles--Materials relating to sale of four wheelers belonging to group company found--Assessment based on presumption not permissible--Books of account of assessee neither rejected nor found defective--No evidence relatable directly with assessee's case found--Addition to be deleted-- Susee Auto Plaza P. Ltd. v. Addl. CIT (Chennai) . . . 166
S. 158BD --Search and seizure--Block assessment--Block assessment of third person--Condition precedent--Assessing Officer of searched person should record his satisfaction that undisclosed income found during search belonged to such person--No satisfaction recorded--Block assessment invalid-- CIT (Deputy) v. Flair Builders P. Ltd . (Delhi) . . . 158
S. 234B --Advance tax--Interest payable by assessee--Assessee under bona fide belief that income not chargeable to tax in India--Interest cannot be levied under section 234B-- Royal Jordanian Airlines v. Deputy Director of Income-tax, International Taxation (Delhi) . . . 181
S. 271D --Penalty--Acceptance or repayment of deposits exceeding prescribed limit otherwise than by account payee cheque--Finance company--Deposits at doorstep of customers--No bank account of depositor--No banking facility in village where depositors reside--Amounts collected on a bank holiday from depositors--Deposits received after banking hours--Explanation given "reasonable cause"--Period of three years from date of starting up of business would be reasonable period for business exigencies-- CIT (Deputy) v. Emeskay Financial Services Ltd. (Visakhapatnam) . . . 134
S. 271E --Penalty--Acceptance or repayment of deposits exceeding prescribed limit otherwise than by account payee cheque--Finance company--Deposits at doorstep of customers--No bank account of depositor--No banking facility in village where depositors reside--Amounts collected on a bank holiday from depositors--Deposits received after banking hours--Explanation given "reasonable cause"--Period of three years from date of starting up of business would be reasonable period for business exigencies-- CIT (Deputy) v. Emeskay Financial Services Ltd. (Visakhapatnam) . . . 134
S. 273B --Penalty--Acceptance or repayment of deposits exceeding prescribed limit otherwise than by account payee cheque--Finance company--Deposits at doorstep of customers--No bank account of depositor--No banking facility in village where depositors reside--Amounts collected on a bank holiday from depositors--Deposits received after banking hours--Explanation given "reasonable cause"--Period of three years from date of starting up of business would be reasonable period for business exigencies-- CIT (Deputy) v. Emeskay Financial Services Ltd. (Visakhapatnam) . . . 134
-CA.RAJU SHAH
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